Home Equity Line of Credit (HELOC)

If you're not sure how much you'll need to borrow or if you want the assurance of being able to borrow quickly in an emergency, you might consider opening a convenient home equity line of credit. Once you establish a home equity line of credit, (up to $350,000.00) you use it when and if you need to. You don't have to borrow the whole amount. You can borrow some and then more later, if you prefer. With a home equity line of credit, the monthly payment can vary higher or lower as interest rates fluctuate. The payment will go up if you borrow additional money from the line.